TOKYO, August 20 /CNW/ - Toshiba Corporation today announced that the
company would participate in the Kharassan uranium mines project, a new
development project in southern Kazakhstan promoted by Kazatomprom (herein
after, KAP), a Republic of Kazakhstan state-owned enterprise. Toshiba's
participation is in line with its policy of enhancing its nuclear energy
The Kharassan project is being promoted by two KAP-related companies,
Kyzylkum LLP and Baiken-U LLP. Test excavation of uranium ore is due to start
within the year, and output is expected to reach approximately 5,000MTU
(metric tons of uranium) a year by 2014. Japanese companies have acquired
indirect ownership interests in Kyzylkum and Baiken-U and will have the right
to obtain up to an aggregate annual quantity of 2,000MTU.
Toshiba will acquire an indirect ownership interest in Kyzylkum and
Baiken-U by taking a 22.5% stake in a holding company that has part ownership
and control of Kyzylkum and Baiken-U. This move will give Toshiba the right to
a maximum of 600MTU from the Kharassan each year. The holding company is
currently jointly owned by Marubeni Corporation, The Tokyo Electric Power
Company, Chubu Electric Power Co., Inc. and Tohoku Electric Power Co., Inc.
Toshiba will be the first power systems manufacturer to participate in the
project, which will allow the company to contribute to the stable supply of
uranium concentrate for nuclear power plants in Japan.
Japan and Kazakhstan signed a memorandum of cooperation in nuclear power
in August 2006. In April this year, a Japanese government-private sector
mission, led by Mr. Akira Amari, Minister of the Ministry of Economy, Trade
and Industry, visited Kazakhstan and confirmed to deepen the cooperative
relations between the two countries, including securing uranium resources for
Japan and technical cooperation. Toshiba participated in the delegation, and
signed a memorandum on mutual cooperation with KAP at that time.
By cultivating cooperative relationships with other key players, Toshiba
aims to complete its transition to become a world leader in the nuclear power
For further information:
For further information: Toshiba Corporation Hiroko Mochida,
+81-3-3457-2105 Corporate Communications Office